Food-delivery platform DoorDash Inc. plans to lay off about 1,250 employees, becoming the latest technology company to admit that it grew expenses too rapidly for the current climate. Chief Executive Read more
Tag: Sharing/On-demand Economy Services
Meta follows Twitter in making major job cuts
From Meta Platforms Inc. to Twitter, big names in the tech sector have announced major layoffs in October and November. Facebook parent Meta META, +5.18% is cutting 11,000 employees, or Read more
Biden anti-hunger plan enlists gig companies — whose workers sometimes go hungry
President Joe Biden’s strategy for ending hunger in the U.S. by 2030 is being funded in part by companies whose own workers sometimes can’t afford to buy food. The Biden Read more
Prop. 30: Millionaire tax to help fund EVs headed for defeat in California
In an apparent loss for ride-hailing giant Lyft Inc., Californians on Tuesday night were on their way to rejecting a ballot measure that would have imposed additional taxes on the Read more
Lyft loses $1.1 billion in market value as stock plunges to all-time low after analyst downgrades
Analysts hailed Uber Technologies Inc. as their ride-sharing preference Tuesday as Lyft Inc. posted quarterly results that indicated it was feeling some pressure from its larger rival, sending Lyft’s shares Read more
Lyft rides price increases to record revenue, but stock still sinks
Lyft Inc. attracted fewer customers in the third quarter than Wall Street expected, but record-high ride-hailing prices sent the company to its highest quarterly revenue ever anyway, executives said Monday. Read more
DoorDash orders hit all-time records as growth continues; stock shoots higher
DoorDash Inc. handily beat third-quarter revenue expectations and reported all-time highs in total orders and gross order value, though the food-delivery company’s quarterly loss was wider than expected in results Read more
Lyft lays off 13% of workers in second round of cuts this year, maintains financial guidance
Lyft Inc. is laying off 13% of its workforce, which amounts to 683 jobs, in what its executives are calling a proactive step as they look to a possible recession Read more
DoorDash earnings: What to expect
DoorDash Inc. is scheduled to report third-quarter earnings Thursday afternoon, after the close of markets in the U.S. Analysts on average expect DoorDash’s DASH, +4.15% quarterly losses to double from Read more
Uber stock surges as company beats revenue estimates, despite $1.2 billion loss
Uber Technologies Inc. stock rose sharply Tuesday morning as the company’s third-quarter revenue climbed 73% year over year, exceeding expectations, and executives issued an optimistic outlook for the current quarter. Read more